On December 16, 2025, PANGAEA CONNECT (01473) announced that its wholly-owned subsidiary, Pangaea Investment, has entered into a strategic shareholder agreement with Mile Green and target company EVOLVE Holdings Limited. The agreement covers investment and management matters related to the target company.
Under the agreement, Mile Green will subscribe for 6,000 shares in the target company for a cash consideration of $1.5 million (approximately HK$11.7 million), while Pangaea Investment will subscribe for 8,000 shares for $1 million (approximately HK$7.8 million). Upon completion, Mile Green and Pangaea Investment will hold 60% and 40% stakes in the target company’s issued share capital, respectively.
EVOLVE Holdings Limited will focus exclusively on businesses involving real-world assets (RWA) and related investments. The group recognizes the commercial potential of blockchain technology and asset tokenization within Hong Kong’s robust regulatory framework. Following a memorandum of understanding, the group has further negotiated with Mile Green to collaborate in the RWA sector through this investment.
By partnering with Mile Green via the target company, which operates in the RWA ecosystem, PANGAEA CONNECT aims to: (i) leverage Mile Green’s extensive commercial network, RWA expertise, and regional experience (particularly in Southeast Asia) to gain low-risk exposure; (ii) acquire valuable knowledge to maintain competitiveness; and (iii) explore synergies between RWA applications and its proprietary technologies in AI, IoT, and digitalization.
The group will contribute its experience in high-performance computing (HPC), AIoT, and connectivity solutions, which are critical for tokenization infrastructure. It also plans to expand its IoT business in Southeast Asia, particularly Thailand, using Mile Green’s commercial network.
This collaboration positions PANGAEA CONNECT at the forefront of the emerging RWA market, where third-party asset owners and technology partners may require its core connectivity, HPC, and AIoT solutions. While the group will not directly engage in RWA-related operations, the investment could yield potential returns and enhance its industry competitiveness.